IGI Logo

Future Outlook

• This PSU probably has the distinction of having the most SELL reports from Brokerages as Analysts are not enthused at the miss on estimates quarter after quarter.

• Its 4 year high Order Inflow too fails to cheer Analysts since it is buoyed by the Rs 96bn maintenance order for the 80 Vande Bharat Trainsets.

• Its transition towards the Industrial segment and likely monetization of its real estate assets seems to keep the street happy as seen in the meteoric rise in stock price recently.

Technical Commentary

• The stock is undergoing a rounding bottom formation, which often signifies a potential reversal from a downtrend to an uptrend.

• A rising trendline provides essential support to the stock's price movements, suggesting an increasing bullish sentiment. Immediate resistance is at 108.

• A successful breach above this level could pave the way for further upward movement with potential targets at 118 and 125.

• The support range between 90 and 85 is evident, serving as a foundation for the stock's price and offering potential buying opportunities.

To Read Complete Report & Disclaimer Click Here

For More  LKP Securities Ltd Disclaimer  http://www.lkpsec.com/

Above views are of the author and not of the website kindly read disclaimer